HomeMy WebLinkAbout20-081WHEREAS, the County of Butte (Issuer) intends to finance, construct and improve certain capital improvements
and facilities known as the Evidence Storage Building & Morgue, as more particularly described in Exhibit A attached
hereto (Project); and
WHEREAS, the Issuer expects topay, and will pay, unand after the date hereof, oerta|nexpenditures
(Reimbursement Expenditures) in connection with the Project prior to the issuance of indebtedness for the purpose of
financing costs associated with the Project onalong-term basis; and
WHEREAS, the Issuer has determined that those moneys to be advanced on and after the date hereof to pay the
Reimbursement Expenditures need to be expended in order to avoid costly delays in the implementation of the Project,
and itisnecessary toreimburse the Reimbursement Expenditures from the proceeds ofone ormore issues uftax'exenmpt
obligations (|ndebtedness)tobeissued bvthe Issuer; and
WHEREAS, the Issuer reasonably expects tV obtain long-term financing in an amount not expected to exceed
Twelve Million Dollars ($12,000,000) and that certain of the proceeds of such debt obligations vuiUbeusedtoreimburse
the Reimbursement Expenditures; and
WHEREAS, Section 1.15Q-2ofthe Treasury Regulations requires the Issuer 1odeclare its reasonable official intent
to reimburse prior expenditures for the Project with proceeds of a subsequent borrowing; and
NOW, THEREFORE, BE �IT RESOLVED that the Butte County Board of Supervisors does hereby determine and
declare asfollows:
SECTION 1. That the foregoing recitals are true and correct.
SECTION 2. That this declaration is made solely for purposes of establishiing compliance with the requirementsof
Section 1.15Q-2ufthe Treasury Regulations. This declaration does not bind the Issuer tomake any expenditure,
incur any indebtedness, orproceed with the Project.
SECTION 3, That it is the official intent of the Issuer to use proceeds of Indebtedness to reimburse Reimbursement
Expenditures.
SECTION 4. That this declaration shall take effect from and after its adoption.
PASSED AND ADOPTED by the Butte County Board of Supervisors this 2316 day of June, 2020, by the following
vote:
AYES: Supervisors Connelly, Lucero, Ritter, Teeter, and Chair Lambert
NOES: None
ABSENT: None
ABSTAIN: None
ry
Steve Lara l:(Ve, Chair
Butte County Board of Supervisors
ATTEST:
Shari McCracken, Chief Administrative Officer
and Clerk of the Board of Supervisors
By:
DeAty
EXHIBIT A TO REIMBURSEMENT RESOLUTION
Description of Project
The construction of an Evidence Storage Building & Morgue is included in the Butte County Capital Improvement
Program. The Project consists of a new 11,663 square foot building to be constructed on a site directly east of the Jail
Facility. The proposed building will replace the existing evidence storage building and include a full-service morgue.